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. chief washington correspondent ed henry live in the white house briefing room with the administration latest effort to reach a deal. with a last minute pitch from the president. the president seems to be saying go home for the holidays, take a deep breath. ref lax. come back. get it done. >> good evening, john. high drama here. when the president is leaving for hawaii in 90 minutes from now. first, though, he met at the white house with senator reid and he called the speaker boehner and came out on the podium behind me. he laid out three-point plan that he thinks can pass if ten days. extend tax cut for 98% of the public. extend unemployment benefit for 2 million people. come back to deal with spending cut and deficit reduction. he said that was achievable by january 1 to avoid the cliff. after last night, unclear whether anything can pass. >> just as the economy is really starting to recover, and we're starting to see optimistic signs. we have seen, actually, some up-side statistics from a range of areas clouding housing, now is not the time for more self-inflicted wounds. certainly
house correspondent dan lothian joins us live from washington this morning. very nice to see you, dan. >> good to see you. >> here's the deal. we have republicans pitted against democrats. now we understand there are issues amongst republicans as well. >> that's right. they're in a tough spot here. they don't want to be in left in a position of being blamed for the fiscal cliff. you're seeing a division between house members and senate members. the reason for this is mainly over the 800 billion in new tax revenue. this was part of john boehner and plan. those tea party-backed conservatives say this is something that would help job growth. clearly what we're seeing here is republicans are not speaking with one voice. >> republicans should not be conceding that the federal government needs more money, negotiating with ourselves and treating the president's proposal like it's serious. >> we do agree that 8% of the american people are getting about 80% of this tax cut shouldn't have their taxes raised. my suggestion was let's take the one area we agree and take it off the table. >> but zo
news. it has been a tumultuous day in washington. both sides apparently in a total deadlock in the fiscal cliff negotiations. president obama is expected to make a statement on where things stand at any moment here. and with a preview we have fox businesses peter barnes. he is at the white house. peter what do we expect to hear? >> well, melissa, right now the president is finishing up on meeting with sete democratic leader harryeid who came down here to try to talk with the president with some strategy moving forward to avert the fiscal cliff. we expect the president to say that he still wants to get a deal with republicans to do that. that is still going to be time. however, that they will have to do it after the christmass3 holiday. the president plans, is planning to go to hawaii for christmas with his family. speaker boehner has left town. gone back to ohio. for the holiday. the senate is expected to come back on, on december 27th, the thursday next week, which is the earlit that they would be expected to get back to work on this. melissa? melissa: peter, who's left? so
the rest of the world. so 90% of the what happens in growth has nothing to do with washington. it's coming from the private sector itself and we're overcoming a lot of difficulties. on the government side, i think the president's plan is let's grow from the middle out. let invest in the workforce. let's invest in rebuilding the infrastructure of the country. let's try time prove the competitiveness of u.s. industry and we have got to shift to more export and investment-led growth and away from residential investment and consumer spending. i think that's the overview of what he was saying in the campaign. and i think you are right, laura, that the only thick that we were arguing about was high income people's tax rates and should they go back to what they were in the 90's. that would be totally inadequate as a complete plan. i think in 2013, i wish we could do it before, but i think it's going to be 2013, i think we're going to sit down and they probably will hammer out something like a grand bargain. that would be a pretty big accomplishment. that will involve substantial -- will have to i
. >> good morning. >> and in washington, msnbc and "time" magazine senior political analyst, mark halperin. >> listen to the song. ♪ waiting for the end of the world ♪ >> good call, kid. elvis costello. "end of the world." >> "end of the world." it's here. no. no, no. >> what's this "new york post" stuff? what's going on? >> i don't know. olympic gold medalist turned prostitute. >> are you serious? >> the thing about the "post," they are always on the pulse. >> exclusive piece or is it in "the times," too? >> here's -- i'm glad it's going on in new york. they're getting ready for the holiday season. >> they've got their eye on the ball. >> i don't know what's going on there. >> let's just throw those away. john boehner had a bad night last night. >> yeah. a picture on the front page of "the new york times" seemed to say it all. >> yeah, my goodness. >> look at his face. >> he said a prayer last night. he undertook a gambit. he decided that he was going to walk away from negotiations and try to get republicans to support a tax increase on people making $1 million or more. without any sp
on with washington? we are so close now this deadline. you can't -- probably hard to put into words how frustrated people are are a lot of talking going on and you can't come together with republicans and they can't come together with you to stop taxes from going up for all americans. >> well, the american people in their wisdom sent a divided government to washington. off group of people in the house of representatives that basically slapped around their own leader and said we won't even consider a tax increase for millionaires, multimillionaires, billionaires. meanwhile, you have got the majority of the senators elected in this body saying we can do more at the top end. those of us who have a lot can get more revenue to address this crisis so you have got this stalemate that was created by two very different groups of people, all elected by the american people. >> now, walking out, i spoke to several of your colleagues, democratic senators who said they were not optimistic, really looking pretty glum. what camp are you in after what you just heard? do you think -- i mean, as you said, the clock
to see trillion deficits for as far as the eye can see. listen, washington's got a spending problem, not a revenue problem. >> joining me now are richard wolffe, the executive editor of msnbc.com and an msnbc political analyst, and robert reich, former labor secretary and a professor at the university of california berkeley. he is also the author of "beyond outrage." richard, i want to go to you first here. the president talked quite a bit in the election cycle. >> quite a bit. >> he did, period, about the fever breaking amongst republicans in congress . >> yes. >> it's been quite feverish of late, which is to say a lot of back and forth, a lot of hot air blown from the house caucus. i wonder if you think that fever might be breaking with the suggestion john boehner said, even if the president gets his way on tax rates, which would seem to open the door to that possibility. >> it's a bit to latch on to that. they cannot settle on a position. very different from the last time around. and it's true. the white house has said both publicly and privately, look, we're prepared to see all
from washington. members only. membership has its privileges. we're 26 days away from going over the fis calf cliff and these are members of the house of representatives walking out. they're going home. no session tomorrow, long weekend. they need a rest. i hope someone can explain this to me. >>> the bears taking a big bite out of apple computer today. the stock getting hammered. has apple lost its mojo or does the company still have room to run? >>> and city, the big slash. knife coming down on 1,000 jobs. the cfo is set to speak about the shake-up right now and we will have the very latest on this very widely held stock which has been moving higher tod today. >>> we have a rally on our hands despite some downward pressure in apple. two of the biggest names in the most widely held stocks around, citi and apple topping the news this hour. headlines aren't good. apple right now is down about 4%. back in bear market territory, down 22% from their historic intraday high of $705 set back in september. right now shares are trading at $551.33. bob pisani joins me on the floor of the n
for the national journal and ruth marcus is a columnist for "washington post." ruth, we'll start for you. if you're a remember of congress or the president -- >> way to go. don't do that to me. >> just for a moment, ruth. go with he. >> all right. >> do you say we need to get this done? and compromise is more important when you look at the screen right now? >> if i'm a member of congress or the president, i say that. am i confident, probably not because your poll is fascinating because the voters are so much more -- so much smarter than the politicians. they're both right about the unlikelihood of compromise. and right about the need for it. but the parties on both sides are also dealing with some pressures from their base voters and the need to not look like they were the ones who were giving in first. and so, that's -- i'm a believer with this speaker about the capacity of washington to pull rabbits out of hats or presents out of stockings, but you can't feel too optimistic right now. >> if you're a member of congress, you're not going to limp to your base i guess is what you're saying there.
at the washington cathedral, it was his really earliest political inspiration. both the president and senate majority leader reflecting on daniel inouye both a long time legislator but two days they will be getting back to work on the fiscal cliff. >> heather: the difficult job of reporting from hawaii, thank you so much, ed. >> gregg: the mother of john hammer telling her son is now in a louisiana hospital. he was released from a mexican prison last week after months behind bars. mexican authorities arrested him after he carried an antique shotgun into their country, even though he says he legally declared the weapon and had a permit for it. today his dad reportedly brought him to the emergency room during their drive back together to florida. his family reported he had a stomach flu of some sort. earlier his mother was clearly relieved to hear that her son was on american soil. >> it was like my first night that i slept all night long without getting up. it was just the thought of not wondering what is going on with him. can anyone hurt him? he is eating and he is able to actually have a m
the information on the benghazi embassy were released. we blew it. at least washington d. >> brian: state department i guess. think it is it acward when mom tried to find you on facebook. being poked by the ayatollah of iran. fox and friends starts right now. ♪ fox and friends. >> steve: the poking on facebook is a weird thing. you - on poke >> gretchen: poking? >> steve: you know what all of the people in the world are doing. >> gretchen: i can poke in different ways. i guess i will figure it out in facebook, too. 92 pokemon. in serious news, a report released on the benghazi terror attack. independent report left four americans including our embassy dead happened after systemic failures produced subparsecurity in our consul late, steves had more from washington. >> good morning, steve and everyone. that cathing report blames state department for a lack of proper security for the deaths of four people in benghazi. the ambassador to libya was among those killed. a special panel was convened to find out what went wrong and presented to select members of congress behind closed doors. the
kept mum on the details of their discussions. a new poll by politico and george washington university shows that three in five americans back raising taxes on the wealthy, which echos the results from election day and a washington post-abc news poll released recently. in the meantime, some on the right seem to have come to terms with the inevitable, including former republican senator alan simps simpson. >> if anybody out there that is "rich" doesn't think their taxes are going up, the drink is on me. >> even with reality from some in his own corner, john boehner is facing mutany. aircraft erickson tweeted out how can you fire speaker boehner. linking to a letter encouraging readers to pressure their congress members to block boehner's re-election to the speakership. boehner is also catching flack for ahs ousting idealogical conservative members from the top gop house committees. >> it's a slap in the face of all young people who are out there thinking about being republicans, want to be part of this party, and are being told, well, if you disagree with leadership, just a couple times
the west coast are taking a toll in western washington state. the national weather service says there's a risk of landslides, like that one, in everett. the ground could also slide in seattle, tacoma and bremerton. one year, 365 days. that's how long american scott kelley and a russian will spend on the sbrshl space station. his trip will be the longest by an american on a single mission. john zarrella joins us now. tell us more, john. >> reporter: holding a briefing about the mission now and what to expect. in about an hour or so, maybe a little less, kelly and his russian counterpart will also hold a press briefing and talk about, you know, how they were selected, the process. and what they expect. you know, this is a huge, huge step, if you want to do a deep space mission, because so little is known about the long-term effects of weightlessness on the body. if you're talking about going to an asteroid or mars, you're talking about round trip missions of a year or two years if you're going to go to mars. weightlessness affects the blood pressure, eyesight. it affects bone density. i
no idea what is the future because of washington. >> given the data points that we've had in terms of claims numbers that did reflect an impact from sandy, they said 85,000 jobs or 86,000 jobs were sliced because of impact of sandy. average hours worked unchanged. doesn't that -- i don't know -- doesn't that bring into question a little bit the participation in the survey. how can it have no impact whatsoever? it seems curious to me. >> it does call into question whether these numbers can be accurate. we have been starting to think let's check accuracy. why isn't this done by s.a.p.? why aren't numbers done by oracle or salesforce.com. >> those are private companies. i'm just saying that you wouldn't question the data if it was done by a company that got a contract like s.a.p. and put these numbers together. i am beginning to question how these numbers are put together. that number was -- i agree with you. sandy has no impact? >> on number of hours worked. >> a lot of country was shut down during sandy. >> even before the number hit, people were saying you got to incorporate poll w
to talk about these children who so tragically lost their lives, he spent some time in washington. his daughter sasha had a recital, a dance recital rehearsal back in washington and he realizes he's got his two daughters he was thinking about, parents or folks who, you know, have nieces and nephews are all thinking about them this weekend. the president included, bret. >> okay. ed. those candles in fact were to represent the 20 children and six adults killed in sandy hook elementary school there on the stage, getting ready for this vigil and prayer service. ed henry, thank you very much and again, for more on how you can help the community of newtown, go to foxnews.com and there on the front page you can see the highlighted area in red, the sandy hook support fund, among that in there, you can see the american red cross and other groups, but on the front page foxnews.com, a way that you can help. we're waiting this prayer service to begin and the president is meeting with the victim's families. and you can see all of it here on fox news channel, special coverage from newtown, connectic
to what we have now. >> reporter: yeah. >> talking about why in "the washington post" a couple of months and said never have we seen them this dysfunctional and criticize both parties and now acknowledge the core of the problem lies with the republican party. what do you think is going on with this truly do nothing congress? >> reporter: well, toure, one is tempted to be flip and say there's post offices that needing naming in the '50s and inflated the numbers and really essentially looking at the numbers the vast majority of those bills, the vast preponderance of those bills is sort of inconsequential bills. they have a special day reserved for post office namings and singing the praises of this day or that day or motherhood or apple pie and so, you know, it's sort of really hard to tell and it's fairly strong indication as if we needed that number to indication of how dysfunctional this congress is. here's somebody, a speaker in the background there saying speaker boehner arrived at the white house and listening to that together. and let me segue back to what's going to be offered here
. >> "the washington post" reports that the president will put vice president biden in charge of the push to start this violence. biden met with the president along with education secretary arne duncan, eric hold and kathleen sebelius to try to formulate a plan. at the same time, perhaps moved by the national move, another plan seems it's taking shape. the deal to stop us from going over the fiscal cliff. speaker boehner and the preside president at the white house. now, the president supports raising taxes on people earning more than $400,000 a year. i want to bring in "washington post" columnist ruth marcus and the national journalist chris freisz. there's a lot owing on, assault weapons ban and the gun show loophole. do you think they're going to take this, how are they likely to approach this? >> well, i think the vice president say very good choice to lead this because of course he was the chairman of the senate judiciary where this legislation goes through for many years. and so he understands a little bit of what's politically possible or, let's cross our fingers, what might hopefu
. all day long on cnbc, we are here in washington holding lawmakers feet to the fire and finding out if they are doing their part to rise above partisan politics and reach a deal on the fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime, speaker boehner says he is still waiting on specific spending cuts. joining us now for analysis, tony fratto, of hamilton place strategies and former white house press secretary and gerald bernstein former economic adviser to vice president joe biden. gentlemen, thank you for being here with us and getting this special day of coverage kicked off for us. >> rising early and rising above. >> exactly. let's talk about
out earlier today and saying no progress has been made in the negotiations. our chief washington correspondent john harwood is here with the latest. >> reporter: we ended the week with a fairly perfect, simple, clear, elegant expression of the partisan differences in this fight. speaker boehner came out and gave a press conference where he essentially said president obama has done nothing to compromise with republicans. here's the speaker. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff. >> reporter: not surprisingly, democratic house leader nancy pelosi had precisely the opposite explanation for what is behind this stalemate. she says republicans simply echoing the white house are going to have to buckle on the issue of the top rates. >> the only obstacle standing in the way of middle income tax relief are the repub
washington d.c. stepping in and more federal innervention than we have right now . with all of the stuff. pet projects and in a way to help victims of super storm sandy. was a big scare but no injuries. re we go again. a bill intended to aid super storm sandy victims . this has spending hawks peeves. explain your flip side. >> i have no problem but i will say it is more important to thwart than haggle in congress. i live in loir manhattan and we have seen problems with super storm sandy. we have businesses that are close not reopening and this is happening in areas hit by the storm. the vital thing is to get the money flowing and more important than congress hagsng. snurkswe need to swallow pork to get what we need. >> no, we don't. you look at sandy spending bill if dc got hit and not new york or new jersey . two weeks after cat can the hit the new orleans area. that area got money. we are still waiting because it is hung up by pork. you are seeing 3 billion to pair or fixnd new cars for the fbi and new trees in cemeteries and silly things like that. it is pretty bad. this could pass on its
to reach a tax-and-spending deal in washington. the president just spoke at length about negotiations and we'll get to that in a moment. but earlier we heard a stern warning for uncle sam, meaning all of us, from one of the world's leading credit rating agencies. fix the fiscal crisis or risk a downgrade. fitch warning again that it may strip the united states of its aaa credit rating if washington is unable to strike a deal to avert these big tax hikes and spending cuts that we're going to see at the end of this year and also to allow borrowing to rise. now this is not the first time we've heard of these warnings or have seen america's credit take a hit. in 2011, standard & poor's cut its u.s. rating to double a from aaa blaming political brinkmanship for preventing on a agreement on raising the debt ceiling. we heard the president talk about the standoff in debt negotiations, a deal our stuart varney said is raising red flags. here is what he had to say earlier on his show. >> right after the election the boss of big labor, richard trumka led a delegation of leftists into the white
with that is laurie montgomery, the fiscal policy reporter for the washington post. so, laurie, welcome to you here. and your paper this morning, you ran through a couple of tax scenarios which were pretty palletable so we want to show our view whaeers what you ran through. let me run through two. we'll look at this first one. so everybody take a look at this graphic. this is scenario number one, married couple, two kids, one in college, combined income of $137,000. you see the numbers here first under the democrats' plan, passed by the senate, not by the house, they would see their taxes rise 2500 bucks a year. just below that, the republican plan, passed by the house in august, would raise the couple's taxes by $4,000. and if we go off the cliff, this is this third scenario here, the middle class couple sees their taxes go up by $8,000. laurie, is the viewer -- the couple, this couple here, this middle class couple gets its best deal from the democrats plan, correct? >> that's right. i mean, most people are going to get a better deal from the democratic plan if you're under $250,000 because the t
will be under nato control. washington sets up the insurance exchangings under obama care. so far 23 states opted out meaning that the federal government will have to run it for them. 19 will have state run exchanges and six plan on partnering with the fids and virginia and florida are the only two states that have not made a decision. we are 18 days from going over the fiscal cliff and president and john boehner hard at work to avirt a disaster. they met at the white house for 50 minutes. neither side would go in details, but the mighting came hours after speaker boehner critized the president for an unwillingness to compromise. >> the president promised the american people a balanced approach, his proposals are anything but. he wants far more in tax hikes than spending cuts. boehner said talks were doing great. do you feel the need for speed ? that is forevermore wwe wrestler. u.s. navy let him take a ride in the fighter jet for the annual tribute for the troops. how fast did he g. he went 900 miles per hour. don't worry. they made him go through training. i wonder if he had the barf bad.
leading the way. the giants were buoyed by reports that washington may be closer to a deal wel get into just a moment. the dow closed the day up 100 points. >>> the empire state manufacturing index stayed negative for the fifth straight month the index which looks at manufacturing activity in the new york area fell to negative 8.1 in december from negative 5.2 in november november. >>> morgan stanley slapped with $5 million fine for the handling of the facebook ipo a massachusetts regulator says the bank had dishonest and unethical practices. morgan stanley shares are up slightly. >>> we start with the republican counteroffer in the fisca cliff negotiations. john boehner talking about a flurry of anticipation now that he he is willing to raise taxes on people more than million dollars. a huge tep. not a republicans are happy with it. those hikes must be balanced by cutting entitlement programs. he spent more time with president obama today to try to hammer out a deal. we have a money power panel toort this oneut. roger altman, former deputy treasury secretary under esident bill cl
it totally mythical numbers, that nothing is actually being done at all. >> "the washington post" did a column on this where they look through some of tim geithner's numbers and it was a little concerning. >> smoke in mirrors. >> goes after the entitlements. >> but this is the deal that's going to happen. the cuts there are going to be real or the republicans won't play. >> right. >> and in return, the revenue side of the equation is going to be more consistent with what the president's looking for. i think he's serious about the rates. >> you can't even guarantee that guys like demint and that wing of the part -- you saw what he said yesterday. >> i didn't see what he said. >> he said no way. 800 billion in tax increases. we're saying it now like it's normal. 25% of gdp for government spending and you've got bloated government already, you start there. you start at government spending. you don't immediately start spending another 50 billion in stimulus. >> that's going to be the question that boehner has to deal with. the president will have to deal with the far wings of his party. b
earthquake the market will think something is going to happen in early january this is the way washington works, they walk right up to the edge of the deal, maybe even past the edge of the deal and then something happens. i still think the market believes there will be a deal, but it is a deal that might happen on january 14th. so, i don't think december 31st is a real deadline, in the mark it's mind. >> steve, tell us, what are the things that can happen that will sort of rouse the market here, move the market up or down ire way? >> well, first of all, i think the tendency for the market right now is to go higher because you have zero interest rates and zero interest rates act as a tremendous stock market flotation device. opposing investments are, you know, yielding essentially nothing at this point, so stocks become very attractive. but i still think the big story and the stories that most traders will be watching is the fiscal cliff so that's story number one. an interesting thing happened yesterday and that's the price of oil traded to an all-time high going back to october, not an a
's going on in washington. i'm not sure who those republicans are. i'm not so sure on whether the fiscal conservatives in the party know something about some big reforms on medicare and medica medicare, social security is, any of the retirement or tax issues, but i'll tell you this. i think that all these stories aren't necessarily going lead us to the truth. i personally have a very size way i'm approaching this. the president is supposed to leave for a 21-day vacation in hawaii on december 17th. where he is on december 18th will tell me, and i think the markets will pay attention. i find it hard to believe, and i agree with bill and many, who are very not amused by the house taking their long weekend. i'm sure that the president would have no intentions of leaving until these issues are resolved. i think the market is being kind, but i think it's a timing issue. >> yeah, i think that's a good point. somebody mentioned the other day that the president is planning a trip to hawaii on december 17th. i said, what? they said, no, no, no, not unless the deal is done. we'll see about that. me
up. i'm concerned that we're debasing our currency to a certain extent. washington has yet to revoke the laws of supply and demand, and we certainly have supplied the economy with a massive amount of liquidity with the same goods and services, the balance has to be priced, and a price situation is going to be higher levels of inflation and they are keeping rates down pretty much right now. >> yeah. >> we have a diminishing level of return, and that's what's happening. we're pushing rates down, but it's not having the impact. >> lower bang for your qe buck as steve liesman put it earlier on. >> thanks for joining us. always good to see you, eyore pento. >> putting fire into the conversation. >> thank you. >>> so much for the holiday cheer. with the rate things are going in washington, there will be plenty of holiday jeer between now and the new year. >> the president's called for $1.4 trillion worth of revenue. that cannot pass the house or the senate. >>> well, two former presidential candidates face off after the break. i feel like i'm going back to 2008 or 2004. steve forbes says n
comes out of washington, if anything. of course, mr. boehner has gone back to his home in ohio for the weekend. the president is on duty at the white house. there are phones, as mr. boehner said, in southern ohio where he lives. if there are any developments, the two gentlemen certainly will be able to get in touch with one another. meantime, there are some individual stock stories of interest at this hour. and one of them concerns facebook. be a facebook lockup expires today and 150 million shares will open up on the market. the last time we had a lockup expiration many expected to see the stock drop. instead, it rallied. right now, no, not so much. facebook down about 89 cents so 3% at 2735. but it is up about 25% over the past three months. julia has the details for us from washington. >> tyler, this is the fourth of five lockup expiration periods. today's potential sellers could also sell in ipos. we shouldn't see any pent up demand to sell. facebook shares are dropping today, off about 3 percent percent as you mentioned. a bit of profit taking after the company's massive r
in places like washington, d.c., new york and los angeles. and the strike at the port of los angeles long beach is entering its seventh day this morning. contract talks between clerical workers and shippers have resumed. the walkout is dramatically slowed activity at the nation's a busiest cargo complex, dockworkers have refused to cross picket lines. >> this is a big deal. i don't know if you think this will have economic impact down the road. national retail federation is worry that had it will spread to the east coast just ahead of the christmas holidays when so many people are out shopping. really a bad time for them. >> it could. l.a. and long beach, biggest port in the united states. >> did you see on the waterfront? you don't mess with -- >> it's the clerical workers that are striking. >> it is? i'm not afraid of that. >> the dock workers don't want to cross the picket line of the clerical workers. >> oh, i'll cross that line. i thought it was the guys with the big boxes and they drop boks on you if you cross that -- will do you remember that? >> i lived in hoboken and i saw parts
are watching every move out of washington. the industrials opened higher by 45. the nasdaq would open higher by 10. the s&p 500 would open higher by six. >>> and the fed wrapping up its two-day meeting this afternoon. its latest policy statement is expected at 12:30 eastern. that will be followed by a news conference at 2:15 p.m. the fed is expected to announce a new round of bond purchases as its last program known as operation twist set to expire at the end of the month. we'll have special coverage at cnbc of the decision and ben bernanke's news conference starting at 12:15. we'll talk to steve leaseman live later in the program. >>> another story that you heard about yesterday, the -- you know, violence and death threats and blood and guts. big implications for big labor. that is michigan's decision to become a right-to-work state. thousands of protesters and union members converged on the capitol in lansing yesterday to object to the measure that would bar unions from requiring workers to pay membership dues and to join the union. governor snyder signed the measure into law. >> shouldn't
. i want to get to washington with some of the latest headlines regarding speaker boehner and what eamon is referring to as plan b. >> what we know is the speaker is in the basement of the capital building here right now, meeting with republican lawmakers to brief them on the status of the fiscal cliff negotiation, and what a gop leadership aide is now telling news news is the speaker is now prepared to offer what he's calling a plan b, or a modified plan b in which we don't do the grand big deal that the president and speaker of the negotiating on, but instead do something much smaller that would eliminate the pending tax increases for all americans, the speaker saying that he would like to have some kind of a deal, a modified scaled-down proposal now that would eliminate those for as many people as he can. the details are very sketchy on what modified plan b actually means in practice. but basically, it's something he can keep in his hip pocket right now in case these negotiations with the president don't bear fruit. and presumably what we're talking about here, carl, is a little
in affecting the lives of every single american. so with washington on vacation, is this now simply unavoidable? we'll take a look for answers next. >> i think the president is eager to go over the cliff for political purposes. i think he see as political victory at the bottom of the cliff. heather: we have breaking news of yet another shooting. just crossing the wires. report that is a gunman has opened fire on firefighters responding to an emergency. this happening in webster, new york, near lake ontario. david lee miller live in our new york newsroom with the latest. david lee, what can you tell us? >> reporter: many details are still sketchy, heather but at this hour i can tell you firefighters were responding to a blaze at 6:00 this morning in the town of webster. webster is a suburb of rochester, new york. it is difficult to fight a fire when temperatures are 30 degrees. someone according to media reports, someone opened fire on firefighters. two firefighters are being treated. they will not disclose to fox news the reason for the ailment. the ap is quoting a local newspaper saying one fi
>> steve: you have a schism in the republican party. they went to washington. look they are not going to raise on anybody and we'll cut thengs . you have the other faction . republican party saying look, we didn't do so well in the last election . we have to compromise with the president to get something done . that's why john boehner said i don't have a votes mr. #2: if you give me plan b i am vetoing in. republicans were saying we are giving you something and go home. they decided plan b will not pass . they are not coming back until after christmas. mr. boehner said i tried. you cut a trial. newt kning rich sat down with bill clenton and 30 days of one and one negotiation . he said it is time to go back to that. >> my advice to them have every single committee starting january 3rd hold hearings on every lempt waste in the federal government . let the country see all of the different ways to waste money to peck up on can congressman cantor. speaking is the problem and drive issue after issue . we would like to fix the tax rates, and any time the president and democrats want to talk
: you are looking live at washington d.c. in the capitol, believe it or not law makers hoping to avoid the fiscal cliff are making progress. aides said they were closer to cutting a deal. but one thing that will not click is tax hikes. how much would they be and who will would have to pay them when it come to revenue. joining us is saradoga springs, utah mayor mya love. he wanted tax increases and would now settle for 1.2 trillion and impact $400,000 or more. and sounds like he squished a bit on it and what do you think about the supposed deal? >> it is not much movement from the president's side. in if you are going for $250,000 to $400,000 that is not much. young came out with a report saying if you tax the top two brackets that will cost you 700,000 jobs. these are janitors going in and having their manager say i am sorry wecan't afford you any longer and these people are working pay check to pay check. they need mon tow feed their family. >> gretchen: - >> steve: the president wanted a two year debt limit. and that was the republicans leverage. it seems like the republicans are get
of different cross currents from what people were hearing yesterday in washington. market well above 100. >> ended up 85 for the day. >> i guess the demise of john boehner as speaker was greatly exaggerated. did you see this "new york times" piece? more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get a freebie is just crazy. >> california at 52%, new york and other places -- >> when you add up all the state and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl
-year, and this, when we used to go and see greenspan down in washington, he said everything else you have on your ticker, i need to see the 10 year. i need to see that every morning. nothing has happened in the ten year for the last -- i don't know. it's just not as interesting as it used to be to watch. when it's manipulated, it's not that interesting. >> one of the things about qe is that it's volatility. and you have seen implied vols down in all asset classes, including bonds. >> because things normally are volatile, that just shows us once again this is not letting things -- letting the chips fall where they may. >> yeah. i think it's baked into the cake. >> but i think he's on to something. the fact that the fed is there, the fact that the fed is trying to get ahead of the fiscal cliff and we've got these big bond buying programs. and the last time, remember, in august of 2011 when we had the last showdown, what happened? bonds rallied. >> and you said you want this to be fixed. you almost need the markets to be more volatile than they are. >> that's one of the theories that people have thr
. leadership void in washington . look who is stepping in to help settle the debate. former governor jeb bush. could it work. >> steve: no police in sight. a mob of protestors tore down a tent with children and elderly people and people with wheelchairs inside. >> two men came in with ski masks and had box cutters. >> steve: that is what happened in michigan a couple of days ago. >> brian: we'll not see commercialism like this anymore? ♪ >> brian: yeah, outlawed because they are just too loud. >> steve: really? >> brian: "fox and friends" starts -- ♪ >> this is the stage manager, ho, ho, ho. happy holidays. you are watching. "fox and friends". >> steve: very nice. >> brian: and joe did not know the news that we found out early this morning. that bralanedwars acquired by the new york jets had a ham string. >> steve: joel is america's biggest jet's fan. >> gretchen: that is insider information. >> brian: he had a bounce in the step. >> gretchen: luckily i know who that is. should we kick off the show with headlines. we now know the identity of the shooter in the mall . he had no history of
of credit to the fed, perhaps, but also feel the debate shifted yesterday in washington. i began to hear way too many people say, you know what the president is curiously unengaged when it comes to cuts. i have always felt the president had the upper hand in this debate. i listened to bernanke and bernanke says, listen, i know they aren't going to come to deal. i see a lot of republicans on air saying we start to understand what they are they want as cuts. not hearing anything from the president. made me feel grim about the fiscal cliff, good about what the fed wants to do, very grim about the power of the fed, beyond what it's already done. >> the "wall street journal"/nbc news poll of americans about the fiscal cliff, some very interesting findings, just to that point, jim, two-thirds polled want congress to strike a deal and cut the budget, even if that means social security and medicare cuts. so, according to this poll, the people are saying, yes, go ahead, cut entitlements and say that obama has a mandate, among those that did not vote for obama, they have -- that they say that there is
big thing is no vacation without legislation. >> right. >> the "washington post" said as of last night, the halls of the capital were virtually deserted. >> cody's the only guy working there. that's embarrassing, isn't it? >> the president is scheduled to go to hawaii a week from today. >> it's boehner and obama. >> there are things, there's a telephone. understand, they have phone service in ohio and hawaii. >> there's an urgency here that dave cody gets. why? because he has said, i'm not hiring until we get this stuff fixed. now, why doesn't that -- well, everybody, the job, small business job creator. come on, man. honeywell hires. that means other towns do great. that means you get into a very virtuous cycle mode. david, it is not about the small businessman. the little businessman doesn't do well unless the big businessman does well. >> who are they selling to? >> honeywell just hired 200 people. >> no doubt about it. >> the opening bell here at the new york stock exchange for a friday. top of the screen, the s&p 500. nasdaq, avago technologies. >> single-family rentals, homes for
pemmaraju in for jenna lee today. jon: good to have you here. optimism is always a good thing in washington. that is in short supply. ringing in 2013 at midnight tonight could mean ringing in more than half a trillion dollars in tax hikes and a hundred billion dollars worth of spending cuts from defense and other key domestic programs, that is if no deal is reached in time to avert it. both the house and senate with rare new year's eve sessions today as they try to hammer out some sort of an agreement. >> we do have to work together, because without bi-partisanship nothing is going anywhere. what we can do is avoid a fiscal calamity by not having the sequestration take place on january 1. jon: the white house also burning the midnight oil last night with the president saying earlier that he ways modestly optimistic the two side could strike a deal. but the key sticking points remain the same, taxing the wealthy and cutting the budget to pay for democratic spending proceed proceeds always. >> it feels an awful lot like groundhog day. this is the fourth or fifth time i've stood at this podium
or the "washington post." 180 degrees. >> what did he mean? >> there's plenty for conspiracy theorists today. ties to all the central banks all around the world, they have these secret dinners every couple of months. as if the fed needed more distrust among fed watchers, right? >> i havend the privilege last r of going to a dinner with fisher, who is crucial -- you look at the diagram. this is just an alumni association that has allowed other people in. this is an m.i.t. thing. fisher is regarded as being the man who saved east asia in the '90s. you know, these guys have been more than upfront that there's a club. i think it's just being written about for the first time. >> yeah. mark, the consensus is $45 billion in monthly purchases of treasuries. that's what's expected. if we don't get that, a lot of market analysts believe that the markets will be extremely disappointed. this off of a string of gains. the first five-day winning streak for the dow since march. the dow, in fact, is at, what, the highest level since october 22nd. s&p the highest level since november 6th, which, of course, was the
, is there any validity to these bombastic charges against the press. joining us now here in washington, terence smith, former correspondent for pbs news hour and cbs news and "new york times." and tom foreman who attended friday's nra event. tom, what was it like being at this nra event? i won't call it a press conference. are you surprised that not a single journalist got to ask a question? >> it was not a press conference. all of us expected to exchange questions and answers with wayne lapierre and the president of nra who was there. it didn't happen at all. it did not happen but adamantly did not happen. several of us tried to call out questions to the participants and even at one point i said to them, would you answer even one question? are you willing to talk to the white house about any of this, even to that, they just kept walking. that was a big disappointment and sort of set the tone for the room. >> when wayne lapierre said falsehoods about semiautomatic weapons and the media are demonizing gun owners, is he right? >> no. but even before that what he got was a priceless gift of 25 min
with our xaernt washington correspondents. good morning, john. were you up all night? >> not all night, but we stayed on, of course, until 9:00 after it was clear that the house alternative had collapsed. but, joe, i was listening to your conversation earlier. this is not about the far left and the far right. this is about the republican party not being able to get its act together and figuring out and strategy and pursuing a strategy. >> i watched the press conference yesterday. all the reporterses, all the mainstream media reporters were saying, mr. boehner, why are you going through this exercise? this is an exercise in futility. why are you doing this? why even hold the vote? and then he can't do it and now all of you are going, see, see, you can't even do it. >> but it does raise questions about what this means for -- >> joe, it's not about the mainstream media. it's about the inability of this republican party to face the -- face political reality. the president was re-elected. his positions are much more popular where the country than theirs. they are locked into a caucus in the
at the raw numbers they've changed quite a bit. this is a nbc "washington post" poll. 54% favor stricter gun control laws and 59% support banning high-capacity magazines. we heard from joe manchin and joe warner, both with a-ratings with the nra. to ruth's point, chris, is there a chance that republicans could help to move them as well? >> well, i think so. i think we have seen that on the fiscal cliff issue. and the feeling here at the capitol, i've put the question to them and said, if gabby giffords, a congresswoman one of your own was almost fatally shot, and congress didn't react on gun control, what has to happen after this new event? this has changed the tenor. i was talking to a democratic leadership aide to made that point and also made the point when you have harry reid, if you remember in 2010, a tough re-election. the nra king just short of stopping him saying he was a friend of the second amendment. you have joe manchin and now mark warner. those are moderate democrats. they help bring republicans on board. maybe we would see movement. >> i want to bring in congressman yarmouth.
, listening to that conversation, a few minutes before the opening bell, front page of the "washington post," investors aren't waiting for a deal. they're selling stock, they're trying to sell homes. they're setting up shelters, gifts for taxes. this discussion is not academic by any stretch of the imagination. >> we have to avoid the cliff, period. >> yes, we do. >> we do. to your point, carl, $20 billion in special dividends have been paid out this quarter. some of the economists said this would be a jump of income in the household, payouts to dividends, acceleration into this year. >> becky and jim, who have been doing amazing work on capitol hill, did talk to grover norquist, a bit of a rematch after cramer's appearance a couple of weeks ago with grover norquist. >> obama personally moved it out two years, because he didn't want to raise taxes and damage the economy, because he said the economy was weak. the economy's not strong now. so the argument to raise taxes now is not any better than it was two years ago. i think there's a real danger we could end up with some damaging tax increa
quickly here. john harward in washington here today. thanks a lot. the cheddar, bacon, onion sandwich that boosted sales for mcdonald's in december. >> steve liesman's exclusive interview with richmond fed president jeffrey lacquer. the lone dissenter at every fed policy meeting this year. more "squawk on the street" after this. the . >>> all right. if the sight of this sandwich makes your mouth water, then you are in luck. because the mcrib is back at mcdonald's today. but how much do limited time offers really impact on sales? we're here to break down the mcrib effect. ladies, great to have you with us. rachel, i'll start off with you. what sort of impact could we see potentially in the month of december? i read in the past, in 2010 at least, one of these limited introduction offers that it actually boosted sales by almost 5%. >> i think it depends on what the lto is and what the prior year same-store comparison is. i wouldn't expect to see a positive number of the magnitude that you're discussing. actually, frankly, it will probably be something in the single digit negatives. but a
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